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Question 23 The major difference between an LLC and a limited partnership (LP) is that: A. An LP is a pass-though entity. B. An LLC
Question 23
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The major difference between an LLC and a limited partnership (LP) is that: A. An LP is a pass-though entity. B. An LLC issues Schedule K-1s to its investors. C. An LPs profits are taxed only at the investor level. D. An LLC can have a single member.
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Financial accounting
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
8th Edition
9780135114933, 136108865, 978-0136108863
